Innovation is key to boosting economic growth in the face of a rapidly ageing population. While Japan spends heavily on education and R&D, appropriate framework conditions are essential to increase the return on such investments by strengthening competition, both domestic and international, and improving resource allocation.
Japanese banks largely avoided the direct impact from the global financial crisis thanks to their limited exposure to foreign toxic assets, the regulatory framework in Japan and the small role of securitisation.
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This report is part of the monitoring of developments since the 1999 OECD Report on Regulatory Reform in Japan ("1999 Report"), with particular attention to the implementation of its recommendations.